what is 6% of $20,000.00?

Answer 1

$1200

Answer 2

You take 20000 times .06 = 1200
but if you are trying to figure out how much interest you will pay on a loan then there is what is call a amorization table that figures that out. A short example:
If your payment is $250 month, Most of that goes to pay interest and what is left goes to pay down the principle amount. At first the interest part is higher. maybe only $6.00 of it pays off the principle, now your balance is: $19942. You will continue to pay 6% of the remaining principle until it is paid off. Financing is a clever way to not tell you that your $20,000 loan is not really paying off 20,000 it is really going to cost you around $50,000-60,000, by the time you pay all the payments and interest.

You could put about $300 a month in savings in just over 5 years save $20,000 and pay cash for what ever and probily get them to agree for $17,000 since you are paying cash and save your self around $40,000. See how smart it is to finance yourself by saving over using someone elses money?

Answer 3

I'm guessing there's more to this than meets the eye. Do you really not know that you multiply (6/100) times $20,000 to get $1200?

Answer 4

Everyone else has already given you the correct answer, but I am gonna give you a different answer.

If you earn 6% return on an investment of 20k,

In 10 years it will be worth $37,965.97
In 20 years it will be worth $67,991.27
In 30 years it will be worth $121,762.01
In 40 years it will be worth $218,057.22

Invest it or lose it!

Good luck!

Answer 5

yep, $1200. 1% is $200, multiply by 6 = $1200

Answer 6

1200

Answer 7

6% of $20,000.00 is $1,200.00.

Answer 8

$20,000 x .06 = $1,200.00

Answer 9

multiply .06 times 20000 and you will have your answer

Answer 10

$20,000 * .06 = $1,200